Loading…
Class III milk futures on the CME closed lower on profit taking, demand uncertainty and a stronger dollar. March fell $0.23 to $16.04 and April fell $0.27 to $15.89.
Cash cheese blocks dropped $0.0575 to $1.49.
A stronger dollar makes US dairy exports less competitive and weighs on milk futures. Lower cheese and butter values point to softer farm milk prices.
brownfieldagnews.comJohn PerkinsFeb 27, 2017brownfieldagnews.comJohn PerkinsMar 1, 2017brownfieldagnews.comJohn PerkinsMar 3, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Class III futures and cash cheese fell on profit taking, demand uncertainty and a stronger dollar, which is a direct sentiment and currency driver, but the 2/27 drop was far smaller than the -5% move ending 3/2.
